Total amount raised
$1.7 Billions
Latest funding date
Location
N26 has successfully raised significant capital through multiple funding rounds, including a Series E round. The company has attracted a diverse group of investors, such as HMC Capital and Third Point Ventures.
Keep reading to explore the intricacies of N26's fundraising journey and the investors backing this innovative platform.
What Is N26?
N26, founded in 2013 by Maximilian Tayenthal and Valentin Stalf, is a Berlin-based financial services company. The company offers a fully mobile banking experience, providing services such as international money transfers, investments, and cash withdrawals through a smartphone application.
With a full banking license from BaFin, N26 ensures customer deposits are protected up to €100,000. The bank's innovative approach allows users to manage their finances seamlessly, offering both free and premium accounts, savings options, and fee-free international transactions.
Currently, N26 employs between 1001 and 5000 people, reflecting its rapid growth and commitment to revolutionizing the banking industry. For more details, visit their official website or their Crunchbase profile.
How Much Funding Has N26 Raised?
- Seed Round
- Amount Raised: $2M
- Date: June 2014
- Lead Investors: Earlybird Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and launch the mobile banking platform.
- Series A
- Amount Raised: €10M
- Date: April 2015
- Lead Investors: Valar Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and scale the platform across Europe.
- Series B
- Amount Raised: $40M
- Date: June 2016
- Lead Investors: Hedosophia, Horizons Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and enter new markets.
- Series C
- Amount Raised: $160M
- Date: March 2018
- Lead Investors: Allianz X, Tencent
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and improve customer experience.
- Series D
- Amount Raised: $300M
- Date: January 2019
- Lead Investors: Insight Partners
- Valuation at Round: $2.7B
- Motivation Behind the Round: To support growth and expansion.
- Series D Extension
- Amount Raised: $170M
- Date: July 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: $3.5B
- Motivation Behind the Round: To bolster financial position and support valuation increase.
- Series D Extension
- Amount Raised: $100M
- Date: May 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: $3.5B
- Motivation Behind the Round: To secure additional funds during economic downturn and focus on promising markets.
- Series D
- Amount Raised: €30M
- Date: February 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue growth and product development.
- Series E
- Amount Raised: €775M
- Date: October 2021
- Lead Investors: Coatue, Third Point Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and enhance product offerings.
Total Amount Raised: $1.6B
Current Valuation: $3.5B
Key Investors
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm that invests in growth-stage technology and software companies. Founded in 1995, the firm has a strong track record of supporting innovative businesses.
- Investment Focus Areas: Software, internet, data services.
- Notable Investments: Twitter, Shopify, DocuSign.
- Tencent
- Details: Tencent is a Chinese multinational conglomerate holding company, known for its investments in internet-related services and products, entertainment, AI, and technology. It is one of the largest technology companies in the world.
- Investment Focus Areas: Technology, internet services, entertainment.
- Notable Investments: Tesla, Snap Inc., Spotify.
- Valar Ventures
- Details: Valar Ventures is a venture capital firm co-founded by Peter Thiel. The firm focuses on transformative technology companies and has been a significant backer of fintech startups.
- Investment Focus Areas: Fintech, software, internet services.
- Notable Investments: TransferWise, Xero, BitPanda.
- Allianz X
- Details: Allianz X is the digital investment unit of Allianz Group, focusing on investments in digital growth companies. It aims to identify and support innovative business models in the financial services sector.
- Investment Focus Areas: Digital growth companies, insurance, financial services.
- Notable Investments: Lemonade, WeLab, N26.
- Earlybird Venture Capital
- Details: Earlybird Venture Capital is a European venture capital firm that invests in technology companies. Founded in 1997, it has a strong presence in the European startup ecosystem.
- Investment Focus Areas: Technology, fintech, healthcare.
- Notable Investments: UiPath, N26, Smava.
What's Next for N26?
N26 is poised to capitalize on the growing demand for digital banking, particularly in Europe, the U.S., and Brazil. With a valuation of $3.5 billion and recent funding rounds bolstering its financial position, the company is well-equipped to enhance its product offerings and expand its market presence. The shift towards contactless payments and online banking, accelerated by the COVID-19 pandemic, presents a significant opportunity for N26 to attract more customers and solidify its position in the fintech industry.
Future fundraising efforts are likely as N26 continues to grow and adapt to new markets. The company’s focus on product development and market expansion suggests that additional capital will be necessary to sustain its momentum. However, N26 will face challenges such as intense competition from other digital banks like Monzo and Revolut, as well as regulatory hurdles in new regions. Navigating these obstacles will be crucial for N26 to maintain its growth trajectory and achieve long-term success.
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